Lekoil Ltd (LEK)

 

Lekoil gets payment for first Otakikpo cargo

Lekoil has received payment for its first cargo lifted from the Otakikpo marginal field in OML 11, announced on 10 May.

Lekoil said the high quality Otakikpo crude blend led to the company realising a small premium to Brent Crude pricing before marketing and related costs over the given period.

It said current production at Otakikpo was approximately 5,500 bopd.

It said the with production gradually ramping up, the company was now looking to establish more frequent regular liftings as it focused on increasing production through year end.

At 9:15am: (LON:LEK) Lekoil share price was +0.63p at 17.88p